Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    BUA Group Condemns Killing of NSCDC Operatives in Okpella

    September 8, 2025

    Tinubu Congratulates Shettima on NES Award

    September 7, 2025

    DSS Petitions X On Sowore’s Post Labeling Tinubu A Criminal

    September 7, 2025
    Facebook X (Twitter) Instagram
    Trending
    • BUA Group Condemns Killing of NSCDC Operatives in Okpella
    • Tinubu Congratulates Shettima on NES Award
    • DSS Petitions X On Sowore’s Post Labeling Tinubu A Criminal
    • Angela Rayner Quits As Deputy Prime Minister
    • EFCC Declares Sujimoto CEO Wanted For Money Laundering
    • Sirika Denies Spending N100b On Failed Nigeria Air Project
    • Ex-IGP Solomon Arase Dies In Abuja
    • Colombian Vice-President Arrives Nigeria on 3-Day Working Visit
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Wednesday, September 10
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Nigeria’s EFCC Maintains Money Laundering Charge Against Binance Executive
    2 Mins ReadJune 21, 2024

    Nigeria’s EFCC Maintains Money Laundering Charge Against Binance Executive

    By Samuel AkpenpuunJune 21, 2024No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Aint-Graft agency – the Economic and Financial Crimes Commission (EFCC) yesterday continued with its alleged money laundering charge preferred against Tigran Gambaryan, an executive of Binance Holdings Ltd at a Federal High Court, Abuja.

    The criminal charge continued before Justice Emeka Nwite inspite of the withdrawal of a charge by the Federal Inland Revenue Service (FIRS) against Gambaryan in the alleged tax evasion case filed against him and the cryptocurrency exchange platform.

    The EFCC filed a five-count charge against Binance and Gambaryan while the FIRS filed a four-count charge against the duo.

    Binance and Gambaryan were accused by the anti-graft agency of money laundering involving $35.4 million.

    Besides, the company was under suspicion of alleged terrorism financing.

    Last Friday, Justice Nwite discharged the detained Gambaryan and his fleeing colleague, Anjarwalla, from the alleged tax evasion charge.

    The judge made the decision in a short ruling following a fresh amended charge filed by the FIRS in view of a notice from Binance about its appointment of a Nigerian representative, Mr. Ayodele Omotilewa, to oversee its affairs in the country.

    However, expectations were high prior to yesterday’s proceedings that the anti-graft agency would follow suit.

    But at the resumed hearing, the EFCC’s lawyer, informed the court that the matter was slated for the defence to cross-examined the agency’s first prosecution witness (PW1), Mr. Abdulkadir Abbas, a Director with the Security and Exchange Commission (SEC).

    Then Gambaryan stepped forward into the dock.

    While being cross-examined by counsel for the 1st defendant (Binance), Mr. Babatunde Fagbohunlu, SAN, Abbas testified against Binance and Gambaryan.

    The witness, who is Director of Registration, Exchanges and Market Infrastructure Department at SEC, stated that a private company that wants to raise capital from the public in Nigeria, must become a Public Limited Company (Plc) before it can engage in IPO (Initial Public Offer).

    He, however, said that Binance did not even register with his office in the first place, adding that the SEC’s regulations mandate it to oversight on all Bitcoin trading platforms under the Nigeria law.

    Justice Nwite adjourned the matter until June 21 for continuation of cross-examination.

    Author

    • Samuel Akpenpuun
      Samuel Akpenpuun

      View all posts
    Binance EFCC
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Samuel Akpenpuun

    Related Posts

    Breaking News

    Tinubu Congratulates Shettima on NES Award

    September 7, 2025
    Breaking News

    EFCC Declares Sujimoto CEO Wanted For Money Laundering

    September 5, 2025
    Featured

    Tinubu Mourns Late Journalist, Evelyn Osagie

    August 23, 2025
    Breaking News

    Haske: Why Atiku’s Son-in-Law Was Declared Wanted – EFCC

    August 22, 2025
    Breaking News

    Soludo Orders Prosecution of Agunechemba Security For Assaulting Corps Member

    August 20, 2025
    Featured

    APC, PDP Must Prove They Are Not Terrorist Organisations – Falana

    August 19, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    BUA Group Condemns Killing of NSCDC Operatives in Okpella

    September 8, 2025

    Tinubu Congratulates Shettima on NES Award

    September 7, 2025

    DSS Petitions X On Sowore’s Post Labeling Tinubu A Criminal

    September 7, 2025

    Angela Rayner Quits As Deputy Prime Minister

    September 5, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.